XRP price raced above $0.60 early this week as the Ripple team scored another landmark victory over the Security and Exchange Commission (SEC). Some vital on-chain indicators suggest the XRP price rally could soon hit a wall. 

After double-digit gains in October, XRP price is now approaching a historically significant resistance at $0.65. On-chain analysis examines how investors could react. 

Crypto Whales Accumulated Significant Amount of XRP at $0.65 

The XRP Ledger Network made another giant stride towards regulatory clarity as the SEC dropped charges against top executives on October 19. As expected, XRP price has since entered a rapid 22% rally above $0.60 as the market reacted positively to the news. 

A strategic XRP cohort of whales who intensified their buying pressure over the last 10 days has been pivotal to the rally.

As depicted in the Santiment chart below, the whales (wallets holding 10 million to 100 million XRP) have increased their holdings by another 80 million coins between October 21 and November 2. 

While the recent buying pressure has impacted XRP prices positively, a closer look at the whales’ Go to Source to See Full Article
Author: Ibrahim Ajibade

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